Glaukos Corporation (GKOS) Tops Q1 EPS by 46c, Revenues Beat; Offers 2Q Revenues Guidance Above Consensus

Glaukos Corporation (NYSE: GKOS) reported Q1 EPS of $0.15, $0.46 better than the analyst estimate of ($0.31). Revenue for the quarter came in at $68 million versus the consensus estimate of $65.07 million.

Key highlights include:

• Net sales growth of 23% to $68.0 million in Q1 2021, compared to $55.3 million in Q1 2020.
• Glaucoma net sales of $53.7 million and Corneal Health net sales of $14.3 million in Q1 2021.
• Gross margin of approximately 76% and non-GAAP gross margin of approximately 84% in Q1 2021.
• Operating expenses of $63.1 million and non-GAAP operating expenses of $61.8 million in Q1 2021.

“Our strong start to the year reflects our teams’ unwavering commitment to advance our key strategic priorities and execute our plans,” said Thomas Burns, Glaukos president and chief executive officer. “While we recognize uncertainties associated with COVID-19 may persist, I am encouraged by the continued recovery trends and believe our business prospects remain robust as we advance our mission to transform the treatment of chronic eye diseases for the benefit of patients worldwide.”

GUIDANCE:

Glaukos Corporation sees Q2 2021 revenue of $70-72 million, versus the consensus of $69.56 million.

For earnings history and earnings-related data on Glaukos Corporation (GKOS) click here.

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